Peregrine Pharmaceuticals (PPHM) Posts Earnings Results, Misses Expectations By $0.17 EPS
Peregrine Pharmaceuticals (NASDAQ:PPHM) posted its quarterly earnings results on Monday. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.17), reports. Peregrine Pharmaceuticals had a negative net margin of 23.15% and a negative return on equity of 38.19%.
Peregrine Pharmaceuticals (NASDAQ PPHM) traded up $0.09 on Monday, reaching $5.35. The company had a trading volume of 261,909 shares, compared to its average volume of 307,791. Peregrine Pharmaceuticals has a 12-month low of $1.96 and a 12-month high of $5.78.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded Peregrine Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, November 18th. ValuEngine lowered Peregrine Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Finally, Noble Financial began coverage on Peregrine Pharmaceuticals in a research report on Friday, September 29th. They issued a “buy” rating and a $10.00 price target for the company.
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Peregrine Pharmaceuticals Company Profile
Peregrine Pharmaceuticals, Inc (Peregrine) is a biopharmaceutical company. The Company operates through two segments: Peregrine, which is engaged in the research and development of monoclonal antibodies for the treatment of cancer, and Avid, which is engaged in providing contract manufacturing services for third party customers on a fee-for-service basis while also supporting its internal drug development efforts.
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